Prices are high! Ethiopia's coffee revenue reached US$150 million in October!

Ethiopia's coffee export revenue rose 66% in October to more than $155.5 million, according to data monitored by the Ethiopian Coffee and Tea Administration (ECTA). ECTA said the performance exceeded its initial target of exporting more than 20, 000 tonnes of coffee and revenues of $108.05 million.

In October, Ethiopia shipped more than 35170 tons of coffee to the international market with revenues of US $155.53 million, while Ethiopian coffee revenues surged by US $62.8 million due to high global coffee prices, and shipments increased in October, 15078 tons higher than in the same period last year.

The coffee industry achieved 176 per cent and 144 per cent of its monthly export volume and export targets, respectively, according to ECTA, which represents a significant increase in Ethiopia's coffee supply to the global market since the start of July of fiscal year 2024. Between July and October, Ethiopia exported 150346 tons of coffee, an increase of 71 per cent over the first three months of last year. Revenue rose 51% to $674.55 million.

In the last fiscal year, Ethiopian coffee exports reached US $1.43 billion, and in this fiscal year, the coffee industry is expected to break the record income record. It is mainly due to the recent stable weather conditions, the increase in coffee production, and the current high international coffee prices, stimulating coffee exports.

But at present, Ethiopia still faces many problems, including the ongoing internal conflict in the country. For nearly a year, armed conflicts between Ethiopian government forces and Farno armed forces have continued to break out in the Amhara region.

Although during the year, Ethiopian government forces deployed heavy and heavy weapons such as drones and combat helicopters, they were still unable to contain the actions of the Fano armed forces, and the Fano armed forces are still growing, with nearly 500000 soldiers at present. It has long controlled most of the rural areas and the regional economy in Amhara.

In addition, recently, Ethiopian media reported that Fano armed forces recently launched an ambush attack on government forces in areas such as Wollo and shewa, one of which was in the city of Debre Berhan, 120km north of Addis Ababa, the capital of Ethiopia, but there were no specific casualties, but there were reports that government forces had suffered serious losses.

However, according to reports, the commander-in-chief of the Ethiopian National Defense Forces and other senior officers said after a meeting with Amhara district officials that the goal was to "completely defeat" Farno forces by the end of December to end the conflict in the area, otherwise the IDF would withdraw from the area. However, it is generally not believed that the IDF can completely defeat the Fano forces, but the withdrawal of the IDF can reduce regional conflicts.

Although Ethiopia's coffee industry has long been located in the south of the country and is not directly affected by the conflict, Amhara is an important food supply area in the country, which is currently closed, causing prices in Ethiopia to remain high. increase the cost input of farmers.

In addition, the problem of the Red Sea still haunts Ethiopia's exports of goods, and Ethiopia still has to rely on the port of Djibouti for export. As ships in the Red Sea area are vulnerable to attacks by Houthi forces, there are fewer Djiboutian vessels and higher prices of food, daily necessities and chemical fertilizers imported into Ethiopia. On the other hand, the transportation time for the export of goods is prolonged and the transportation cost is rising, which makes Ethiopian coffee continue to rise recently.

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